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Tax

The IRS is offering to waive certain penalties if
taxpayers that participated in illegal tax shelters disclose them and
identify their promoters. The amnesty does not apply to taxpayers
involved in fraud, crime, concealment of foreign financial accounts or
reporting of personal expenses as deductible business expenses. ( http://ftp.fedworld.gov/pub/irs-news/ir01-121.pdf
)

In an annual report to Congress, National Taxpayer
Advocate Nina Olson recommends that legislators uniformly define the
term “qualifying child” for tax purposes. Olson’s report also proposes
reducing the alternative minimum tax’s effect on individuals. As in
prior years, the report found the most serious problem taxpayers face
is inadequate toll-free telephone access to IRS customer service. ( http://ftp.fedworld.gov/pub/irs-news/ir-02-02.pdf
)